The Hang Seng Index fell 0.35%, down 83 points, to 23,784, while the Hang Seng Tech Index dropped 0.75%. Morning trading turnover in Hong Kong reached HK$90.4 billion.
Innovative drug stocks extended their gains. Several key data sets are set to be released at ESMO, and the successive landing of platform-type BD deals has conveyed confidence. Zai Lab Ltd (HKEX: 09688) rose 4.98%; Everest Medicines Ltd (HKEX: 01952) gained 5.92%; and Duality Biotherapeutics Inc (HKEX: 09606) climbed 2.4%.
Ascletis Pharma Inc (HKEX: 01672) advanced 4% after its once-weekly oral peptide pipeline for obesity treatment delivered positive preclinical data.
Yunyinggu Technology (HKEX: 03310) surged over 27% as the company expanded into two new businesses — optical interconnect and UCIe IP — as part of a strategic effort to cultivate new growth drivers.
Pork-related concept stocks rebounded in the morning session, with signals of capacity reduction across the hog industry chain continuing to accumulate. Institutions indicated that upstream performance for hog enterprises is expected to improve. Dekon Agro & Food Ltd (HKEX: 02419) rose 4.5%; Muyuan Foods Co Ltd (HKEX: 02714) gained 4%; and COFCO Joycome Foods Ltd (HKEX: 01610) added 2%.
Deepexi Technology (HKEX: 01384) jumped 7% after its DeepWorks enterprise agent platform opened for autonomous registration to all users.
Topu CNC (HKEX: 07688) gained over 4% on plans to acquire no less than 70% equity in a machine tool manufacturer and distributor, stepping up its presence in high-end CNC machine tools.
CATL (HKEX: 03750) plunged 10%, leading blue-chip losses. Multiple factors weighed on profitability, with third-quarter net profit declining 5.77% quarter-on-quarter.
Fuyao Glass Industry Group Co Ltd (HKEX: 03606) dropped 7.6% as foreign exchange gains and losses dragged net profit down nearly 15% for the first three quarters.
Ganfeng Lithium Group Co Ltd (HKEX: 01772) fell 3.6% after third-quarter profit slid 68% quarter-on-quarter, with UBS expecting a negative market reaction.
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Hong Kong Stocks Midday Review: Hang Seng Index Slips 0.35% in Morning Session, CATL Leads Blue-Chip Declines
Stock News10-21
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